Wondering why you should invest in Montgomery, the state capital of Alabama?
After putting so much effort into your savings, it’s time to invest and let your money work for you. Investments allow you to secure your future and grow your portfolio. Considering the current market, there are several investment options available, from bitcoin to stocks to bonds.
But over time, real estate has proven to be the investment choice to best rely on and trust.
Real estate offers investors that steady passive income that other investment options cannot. Provided that economic conditions are stable, rental property owners can enjoy consistent income. With the longevity of real estate, this can profitable well into the future.
Property is also one of the few assets that appreciate over time. This is an extra bonus! As you get rent on a monthly or a quarterly basis, you can decide to sell your property at a handsome price should you choose to relocate or change your mind about owning a rental.
To convince you of the charm of the city of Montgomery and investing in it, Southern Realm Property Management has compiled the following article. Our experienced and reputable team has worked with both new and seasoned investors in the past. We can show you exactly why investing in Montgomery can be lucrative!
Why Investors Are Being Drawn to Montgomery
Real estate does not operate in a vacuum. It’s affected by other factors in the economy. As such, we’ve analyzed the different factors in play in Montgomery which have pulled in investors and households in the past.
The following are all factors that contribute to why investing in Montgomery real estate is such a promising opportunity!
As a potential landlord, population is one of the factors that you should keep your eye on. Every day that your property remains vacant is a day of lost income. However, considering the healthy population metrics of Montgomery, the data should set you at ease.
Over the past five years, the population in the city has been on an upward trend. Currently, the city ranks a close 2nd in terms of population in the state. This can be attributed to the healthy and vibrant job market here.
Furthermore, the Montgomery County population is a youthful one, with the median age being in the 30’s. This bodes well for the future as it presents a population that will stay longer in the area and give you a long-term source of income.
Employment and Job Opportunities
The economy of Montgomery is quite diverse. Economic activity in the city is spread across military defense, technology, automotive and advanced manufacturing. With such a diverse economy, the GDP has been growing steadily over the past decade and pulling in individuals and households to the city.
Companies and corporations are drawn to opening regional headquarters in the city due to its cheaper cost of doing business. Some of the notable employers in the city include Hyundai Motor Manufacturing Alabama, International Paper, Koch Foods, and Kowa Pharmaceutical America Inc.
Unemployment in the city of Montgomery is down to single digits. Such a low unemployment level reduces the possibility of having problem tenants on your property or ones who can’t pay rent. It’s only with high quality, reliable tenants that your investment in the Alabama State Capital kick-off.
The Influence of Universities and Colleges
If you take a walk around Montgomery, you’ll notice a fair share of the young adults around. They’re easily identifiable by their trendy clothing, the affinity for walking in crowds, and larger-than-life attitude.
Alabama State University, the University of Alabama Birmingham, and Troy University are among the big colleges and universities that call Montgomery home.
As a potential property owner in Montgomery, this is a dynamic that you can choose to take advantage of. With several universities and colleges, an investor can target the constant population of students in the city. The team at Southern Realm can help you identify the ideal neighborhood and locate the perfect property for these Alabama students.
A Renter’s Market
In your research, you might have come across the term “renter’s market.” In this kind of situation, it’s more economically viable for residents in the area to rent rather than purchase a house. As a result, the property market leans more towards rental properties. The real estate market in Montgomery presents such a situation and an ideal opportunity for investors.
Some of the neighborhoods that we recommend have the most promise for investment opportunities. If you have any questions on which area would be best for your investment goals, the knowledgeable team at Southern Realm has all the information that you need.
Quality of Life
This is an important aspect that renters today look for. It’s critical to the enjoyment of a property. People who move to Montgomery are continuously mentioning the rich culture, the hospitality, and the high quality of life.
Despite its size, Montgomery has a small-town charm. They are very few cities in the country that can say the same!
As the state capital of Alabama, the population has been on the rise on a daily basis. Companies and start-ups are opening regional headquarters in the city. Professionals are streaming in to take advantage of the opportunities. Landlords can attest to the increase in demand for housing as a result.
For you to obtain all the benefits that come with Montgomery real estate investment, you need to engage the best in the area. There’s no company better positioned in the city than Southern Realm Property Management! With our experience and industry knowledge, we can help you grow your portfolio to the financial dream you’ve always envisioned.
Why don’t you give us a call today?